Introducing PACE
Founded in 2004 PACE Development is Thailand’s leading high end property developer with a vision to introduce new trends to the property market; improving the landscape through world-class design, and enhancing and redefining how people live, work and enjoy life.
CEO Sorapoj Techakraisri focuses on luxury mixed use and retail developments that utilize world class design and quality standards which are backed up by more than 25 years of property development experience. PACE’s mission is to create design driven properties that match the needs of discerning and affluent individuals through architectural leadership. Key features of PACE developments include identifying the most sought after locations, implementing world class interiors and architectural design, using the finest quality materials and delivering projects as promised.
PACE’s growing portfolio to date includes boutique condominiums and luxury residences such as Ficus Lane and Saladaeng Residences with work now well underway on MahaNakhon, scheduled to be the tallest mixed use development in the city, where ground was broken in early 2011.
PACE keeps functions such as project conception, marketing and project management in-house, led by the highly skilled and experienced executive team. PACE has a keen understanding of the evolving way in which people live and this gives the company the insight to produce outstanding properties which reflect the desires and changing attitudes of discerning buyers.
As the CEO of PACE Development, Sorapoj has the task of both creating and following new trends worldwide, developing new ways of living and properties for the Thai market.We sat down with him, to learn a little more about the background of PACE, and where he sees the future.
Momentum: Tell us about your background and how you started out in property development?
I guess you could say it’s in the blood; my family were founders of LPN and have also developed housing using the Kalaprapreuk brand and factory space, so even in high school I was working in real estate. My brother and I saw a large opportunity in the early 2000s where development had stalled since the 1997 period, and also where a new affluent Thai consumer was looking to move from homes to condos so we created Ficus Lane, a completely new “low rise resort in the city” concept at the time, and from there PACE was born.
What is PACE Development’s vision?
We try to identify the way we see Bangkok and Thailand evolving, then map that against trends abroad and our own expectation on how that will affect the way people want to live. For instance, in Thailand the issue of longevity of high end properties was a concern we saw appearing in the mid 2000s, so our answer to that has been bringing The Ritz-Carlton Residences brand to Thailand for the first time. Of course, lifestyles never stay the same, and so a lot of the enjoyment within the company is keeping ahead of lifestyles and providing the best possible solutions.
Where do you draw your inspiration from?
A lot of it is from our clients. We aim to always deliver more than we promise, and so that inspires us to keep pushing in everything we do; for more quality, more uniqueness, less waiting times, and new ways of achieving the same results. To achieve this means using a great team who share that same ethos.
When you consider that for most families, their home is the biggest asset they will ever own, as a developer you realise how important that asset is for a family, for their happiness. It’s a big responsibility and also a huge source of inspiration for us to try to exceed their expectations with what we do.
How involved are you and PACE with the actual design process?
Design is a passion for me, so I am very hands on with all aspects of the design process as my staff and suppliers can attest. Of course, we also use some of the best designers available in the world and so together for all of us it’s an iterative process, because every aspect of the design of a development, from the smallest interior specification to the overall façade has to work synergistically to create the kind of home that our clients will really enjoy living in, and will hold its long term value.
How do you see mixed use and retail developments changing in the future?
The early mixed use developments tended to be singularly focused, such as an office tower, with a scattering of retail added to service those tenants. The most recent Bangkok developments are a step beyond this, combining retail, residences and hotels in a very well thought out ground up design process, ensuring that all components work together in a 1+1+1=5 configuration. The next logical step beyond this may be multiple developments working together as districts; the Ratchaprasong shoppingled area is one, and I believe the Sathorn/Narathiwas intersection will be another.
What’s the meaning behind the name MahaNakhon?
We conceived the building to be an addition to our home city, so the thought of the full name of Bangkok, Krungthep MahaNakhon immediately came to mind. The literal meaning “Metropolis”, is also very fitting for how we see the building being the centrepoint of the local community, with a public plaza as well as the mixed use components making it a place to be and a place to meet.
What’s the inspiration behind the concept and design of this building?
The concept of the architecture came as a result of the design brief; we wanted a tall building to capture the views across the city from Lumpini Park to the River, and also to provide unique one of a kind residences with outdoor living spaces. Out of this element of the brief came the concept of pixilation, where portions of the building are removed, creating those cantilevered rooms, oversized terraces, and the instantly recognisable exterior.
Can you tell us a little bit about what the key components of the development will be?
There are 4 main components; The Ritz-Carlton Residences, Bangkok, which are 194 hotel branded spectacular residences; a retail center providing lifestyle and dining; The Bangkok Edition Hotel, an exciting new hotel operated by The Ritz-Carlton from the Marriott Group created by Ian Schrager; and a public plaza.
Can you detail the time line from conception to opening ceremony?
We just recently held the ground breaking ceremony, and have commenced construction now starting with the piling; the smaller retail building opens beginning of 2013, while the Residences and rest of the development is completed by 2014.
“We aim to always deliver more than we promise, and so that inspires us to keep pushing in everything we do” Sorapoj Techakraisri